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troutman · 04-30-2012, 10:10 AM

Phoenix Coyotes sale could be finalized next week

http://www.bizjournals.com/phoenix/m...-could-be.html

Jamison has brought together the investment money necessary to purchase the Coyotes from the NHL and keep the team in Glendale, sources familiar with the sale of the franchise said. Previous attempts to buy the team have struggled to secure financing and monetary commitments for a franchise that loses $25 million each season.

If Jamison has his investment ducks in a row, it could result in the NHL officially announcing sometime next week that the Coyotes are off the market with terms of sale being finalized with Jamison, who still is a minority owner of the Sharks.

The NHL has owned the team since buying them out of Chapter 11 bankruptcy protection in 2009 for $140 million.

The Glendale City Council could vote on an arena lease deal and financial payments to Jamison’s group as early as its May 8 meeting, according to officials familiar with the matter. The city, however, has nothing on its council agenda yet, according to Glendale spokeswoman Julie Frisoni

Coyotes’ boosters still are optimistic that they have the four votes on the seven-member city council to get a deal approved.

04-30-2012, 10:10 AM	#613
troutman Unfrozen Caveman Lawyer Join Date: Oct 2002 Location: Crowsnest Pass Exp:	Phoenix Coyotes sale could be finalized next week http://www.bizjournals.com/phoenix/m...-could-be.html Jamison has brought together the investment money necessary to purchase the Coyotes from the NHL and keep the team in Glendale, sources familiar with the sale of the franchise said. Previous attempts to buy the team have struggled to secure financing and monetary commitments for a franchise that loses $25 million each season. If Jamison has his investment ducks in a row, it could result in the NHL officially announcing sometime next week that the Coyotes are off the market with terms of sale being finalized with Jamison, who still is a minority owner of the Sharks. The NHL has owned the team since buying them out of Chapter 11 bankruptcy protection in 2009 for $140 million. The Glendale City Council could vote on an arena lease deal and financial payments to Jamison’s group as early as its May 8 meeting, according to officials familiar with the matter. The city, however, has nothing on its council agenda yet, according to Glendale spokeswoman Julie Frisoni Coyotes’ boosters still are optimistic that they have the four votes on the seven-member city council to get a deal approved.